In the first 7 months of 2022, shrimp exports recorded double digits growth in the first 5 months, starting to decrease slightly in June and fell deeper in July. Accumulating 7 months, Vietnam shrimp exports reached 2.65 billion USD, an increase of 22% compared to the same period last year.
The US
Vietnam shrimp exports to the US start to slow down in May, decrease 36% in June and continue to decrease 54% in July. Accumulated in the first 7 months of 2022, Vietnam shrimp exports to the US reached 550 million USD, down 6% compared to the same period in 2021.
The US shrimp imports had slowed down since May 2022 due to the high inventories. Besides, logistics and transportation problems such as port congestion, increased freight rates, and lack of cold storage also led to a decrease in US shrimp imports. The purchasing power of seafood, including shrimp, in the retail segment also decreased.
Inflation in the US makes people spend cautiously. However, in the coming time, the situation will be better when the US job market is recovering . Better income can boost consumer spending on shrimp. Shrimp prices in the US are also expected to be under downward pressure in the second half of 2022.
Vietnam shrimp exports to the US and China showed sign of decreasing in July
China
After recording strong growth in the first 6 months of the year, Vietnam's shrimp exports to China in July decreased 17% to $38 million. In the first 7 months of this year, shrimp exports to this market reached 371 million USD, up 64% over the same period in 2021.
Although China has reopened its economy and loosened regulations related to COVID-19 at seaports, import regulations are still very strict, creating many difficulties for exporters. In the Chinese market, Vietnamese shrimp suppliers also have to compete with suppliers from Ecuador. Ecuador is having a strategy to boost exports to China to compensate for the decrease in exports to the US.
Shrimp exports to the EU market in July still increased by 16% over the same period, thanks to the support from the EVFTA. Exports to Japan and South Korea in July still grew quite steadily by 5% and 22% respectively. Freight to Japan and South Korea are not as high as to Western countries, and inflation in these countries is not too high. These are considered factors that help maintain a stable growth momentum in shrimp exports to these markets.
Compiled by Thuy Linh
Vietnam’s pangasius export to the United Arab Emirates (UAE) reached more than 7 million USD in the first quarter of this year, a rise of 67% against the same period last year. UAE mainly imported frozen fillets from Vietnam.
(seafood.vasep.com.vn) According to data from General Department of Vietnam Customs, the UK imported nearly $3 million worth of pangasius from Vietnam in the first half of March 2024. Cumulative pangasius exports to this market reached $12 million as of March 15, 2024, down 3% from the same period last year.
Total export revenue from agro-forestry-fisheries products in the first three months of this year is estimated at 13.53 billion USD, up 21.8% over the same period last year; and this results in a trade surplus of 3.36 billion USD, a rise of 96.5%, according to the Ministry of Agriculture and Rural Development (MARD).
The southernmost locality is developing shrimp farming models that generate large outputs but are environment-friendly.
(seafood.vasep.com.vn) An Giang province's aquaculture output is predicted to reach 172.3 thousand tons in the first quarter of 2024, up 6.37% (+10.3 thousand tons) from the same time the previous year.
(seafood.vasep.com.vn) According to data from Vietnam Customs, as of March 15, 2024, Vietnam's cephalopod exports reached more than 109 million USD, a slight decrease of 3% compared to the same period in 2023. In the first quarter of this year, Vietnam's cephalopod exports are expected to reach about 136 million USD, down 2% over the same period last year.
(vasep.com.vn) According to statistics from the International Trade Centre (ITC), Portugal is the 6th largest tuna importer in the EU. In 2023, the country's tuna imports from other countries increased by 9% compared to 2022, reaching nearly 241 million USD.
(vasep.com.vn) Vinh Hoan Corporation has just announced supplementary documents for the 2024 Annual General Meeting of Shareholders, scheduled to be held on April 17.
(seafood.vasep.com.vn) Sao Ta Food Joint Stock Company (FIMEX VN) has just announced that in March 2024, finished shrimp output reached 2,000 tons and finished shrimp consumption reached 1,693 tons, an increase of 74%, and 42% over the same period in 2023, respectively.
(seafood.vasep.com.vn) In February 2024, Vietnam pangasius exports to China and Hong Kong decreased by 65% compared to February 2023, reaching 23 million USD.
VASEP - HIỆP HỘI CHẾ BIẾN VÀ XUẤT KHẨU THỦY SẢN VIỆT NAM
Chịu trách nhiệm: Ông Nguyễn Hoài Nam - Phó Tổng thư ký Hiệp hội
Đơn vị vận hành trang tin điện tử: Trung tâm VASEP.PRO
Trưởng Ban Biên tập: Bà Phùng Thị Kim Thu
Giấy phép hoạt động Trang thông tin điện tử tổng hợp số 138/GP-TTĐT, ngày 01/10/2013 của Bộ Thông tin và Truyền thông
Tel: (+84 24) 3.7715055 – (ext.203); email: kimthu@vasep.com.vn
Trụ sở: Số 7 đường Nguyễn Quý Cảnh, Phường An Phú, Quận 2, Tp.Hồ Chí Minh
Tel: (+84) 28.628.10430 - Fax: (+84) 28.628.10437 - Email: vasephcm@vasep.com.vn
VPĐD: số 10, Nguyễn Công Hoan, Ngọc Khánh, Ba Đình, Hà Nội
Tel: (+84 24) 3.7715055 - Fax: (+84 24) 37715084 - Email: vasephn@vasep.com.vn